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प्रश्न
Who said, that one of the key of an entrepreneur is “uncertainty bearing”.
पर्याय
J.B.Clark
Schumpeter
Knight
Adam Smith
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उत्तर
Knight
APPEARS IN
संबंधित प्रश्न
State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour
What is the law of variable proportions?
The short-run production is studied through
Mention the economies reaped from inside the firm
Product obtained from additional factors of production is termed as
Define Marginal Product of a factor.
Bring out the Relationship among Total, Average and Marginal Products.
Which one of the following is NOT a ceteris paribus assumption of the Law of Supply?
When the Marginal Product turns negative, Total Product will ______.
Why is the AVC curve U-shaped?
At the point of inflexion, ______ is maximum.
With the help of a diagram, explain the relationship between Average Product and Total Product under the Law of Variable Proportions.
Study the data given below and identify the laws followed in the production of A and B depicted in the Table I and Table II. Justify your answer with a reason for each.
| Table I | Table II | ||||
| Machines | Labour | Output of A (units) | Machines | Labour | Output of B (units) |
| 5 | 10 | 1000 | 5 | 10 | 400 |
| 5 | 11 | 1150 | 10 | 20 | 800 |
| 5 | 12 | 1310 | 15 | 30 | 1200 |
What are Average product?
What is marginal product?
Which stage of the Law of Variable proportions will be the best for the producer? Explain with a reason.
Which term describes the extra output from adding one more unit of labour in production?
Which stage is shown when total production drops and marginal product becomes negative?
